Childress Capital Advisors LLC Acquires Shares of 8,100 LandBridge Company LLC (NYSE:LB)

Childress Capital Advisors LLC acquired a new stake in LandBridge Company LLC (NYSE:LB - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 8,100 shares of the company's stock, valued at approximately $583,000.

A number of other hedge funds have also recently bought and sold shares of LB. Fairway Wealth LLC acquired a new stake in LandBridge during the 4th quarter worth $50,000. Generali Investments Management Co LLC bought a new position in shares of LandBridge in the 4th quarter valued at about $52,000. Comerica Bank grew its holdings in shares of LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after acquiring an additional 265 shares in the last quarter. Blue Trust Inc. bought a new position in shares of LandBridge in the 4th quarter valued at about $110,000. Finally, Barclays PLC bought a new position in shares of LandBridge in the 4th quarter valued at about $180,000.

LandBridge Stock Performance

Shares of NYSE:LB traded down $1.74 during trading on Monday, reaching $67.09. 462,605 shares of the stock were exchanged, compared to its average volume of 490,909. LandBridge Company LLC has a 12 month low of $18.75 and a 12 month high of $87.60. The firm has a market cap of $4.91 billion and a PE ratio of 18.84. The stock has a 50-day moving average price of $73.75 and a 200-day moving average price of $70.11. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 0.60.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Thursday, June 5th. LandBridge's dividend payout ratio is presently 11.24%.

Insider Activity

In other news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $75.25, for a total value of $142,975,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 70.42% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LB shares. Barclays raised their price objective on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. Wells Fargo & Company lifted their price target on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. The Goldman Sachs Group lifted their price target on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Piper Sandler reduced their price target on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Finally, Johnson Rice cut LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.67.

LandBridge Profile

LandBridge Company LLC owns and manages land and resources to support and enhance oil and natural gas development in the United States. It owns surface acres in and around the Delaware Basin in Texas and New Mexico. The company holds a portfolio of oil and gas royalties. It also sells brackish water and other surface composite materials.